From left: Ng, Paw and Tan as Teh moderates on the how SOBA helps create business trailblazers. — LOW LAY PHON/The Star
THREE past winners of Star Outstanding Business Awards (SOBA) joined in another SOBA Connect session to share what has changed since winning the awards.
SOBA Connect is a half-day programme that aims to encourage entrepreneurs to learn from the experiences of past winners.
Themed “Trailblazers of Tomorrow: Their Business Journey”, the event hosted business leaders who have encountered challenges in their business environments while presenting a platform for upcoming entrepreneurs to acquire ideas, gain inspiration and connect with the industry leaders.
Its objective is to serve as a platform for knowledge exchange and foster collaboration among past SOBA winners (SOBA Alumni) and the sponsors.
The present session’s past SOBA winners include Mega Fortris Bhd group managing director and group chief executive officer (CEO) Datuk Adrian Ng Meng Poh, Go Hub Capital Bhd CEO and executive director Kenny Tan Cherng Thong and Alpro Foundation CEO Ostwin Paw Yen Thng.
The discussion was moderated by Teh Kim Teh, Salina & Co senior partner Datuk Teh Tai Yong, who is also the president of the Malaysia Entrepreneurs’ Development Association (Persatuan Usahawan Maju Malaysia, PUMM).
Ng joined and won SOBA in 2016, which helped him elevate his company from a small and medium enterprise (SME) to a mid-tier company.
The company has since proceeded to a public listing.
“SOBA cemented that for me in 2016,” he said. “When we were embarking on a corporate journey, we needed exposure.
“Through SOBA, many companies or private equity funds got to know about us, and in 2018, three large private equities invested in us.
“With that, I’d encourage you to do so. SOBA will give you a good platform,” he advised.
Paw said SOBA is a form of acknowledgement of Alpro’s success.
“It’s a testament to our team that if we are on the right track and we are doing something right.
“Although there are many different awards in the market, SOBA is different because even if you pay for the application fee it doesn’t guarantee that you will win something. So that’s why when we won, it was a big thing.”
The award in 2022, boosted confidence and helped the company’s initial public offering (IPO) journey
“SOBA has empowered myself and my team. When I won the award in 2022, we were still an SME. Right now, the award has boosted our confidence and helped us in our journey by providing us the recognition.”
He added that the award has guided his company on the journey in seeking an IPO.
For Ng, the biggest challenge was managing business during the Covid-19 pandemic because the global lockdown had affected how businesses were run.
“During Covid, our company offered essential supplies. If we didn’t supply for example, Gardenia bread, no one would have bread during that time.
“However, we can only produce 30% with a 30% workforce,” he added.
Tan, whose business is similar to Ng’s, was also badly affected during the pandemic.
“But to be a leader during bad times, one has to be resilient,” he said, adding that he had to motivate his teams to rise to the challenge.
He pointed out that the changing generation had also brought about new ideas and personalities.
“With the new generation of workers, leaders should enable them to do the right thing.”
According to him, the new generation expects rewards to be immediate and it wants to be given an opportunity to improve and level up.
Tan also advised SMEs to foster innovation, not only in terms of products but also in human development.
He said companies should understand their markets and customer behaviour.
Paw highlighted that entrepreneurs should know the problems that they need to solve and they should have a solution for them.
“This requires you to be persistent, as you pinpoint what you have experienced and feel passionate about what you do,” he said.
The programmes are divided into two sessions, opening with a moderated panel discussion and a “Pitch & Meet” session.
It is a platform for entrepreneurs to acquire great ideas, gain inspiration and connect with industry’s best.
SOBA 2024 is organised by SMG with Credit Guarantee Corp Bhd, PKT Logistics Group Sdn Bhd and RHB Bank as main sponsors.
Matrade is the official trade promotion partner.
The awards are audited by BDO while radio stations 988 and Suria are official media partners. For more information, call SMG Events at 017-231 1789 or log in to www.soba.com.my.